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Category: Corporate News

International Corporate News Oil

Chevron Targets Argentina and Mediterranean for LNG Growth

Chevron Targets Argentina, Mediterranean and India in Global LNG Expansion Chevron is looking to expand its global liquefied natural gas (LNG) portfolio, with Argentina and the eastern Mediterranean emerging as key areas of potential growth as countries seek greater security and diversity of energy supplies. Freeman Shaheen, President of Global Gas at Chevron, said recent geopolitical disruptions had highlighted the importance of diversifying LNG sources and contracting structures. Chevron expects to have about 20-million tonnes

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Energy Corporate News International Oil

TotalEnergies Takes Operatorship of Namibia’s Mopane Oil Discovery

TotalEnergies Takes Operatorship of Namibia’s Mopane Oil Discovery, Targets 2028 FID French energy major TotalEnergies has completed its acquisition of a 40% operated interest in Namibia’s Petroleum Exploration Licence 83 (PEL83), marking its formal entry as operator of the Mopane oil discovery in the Orange Basin. The transaction, agreed with Galp in December 2025, has received final approval from Namibian authorities. Under the agreement, TotalEnergies acquired Galp’s 40% operated interest in PEL83, while Galp acquired

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Corporate News International Oil

TotalEnergies Takes Operatorship of Namibia’s Mopane Licence

TotalEnergies Secures 40% Operatorship of Namibia’s Mopane Discovery in PEL 83 TotalEnergies has completed its transaction with Galp Energia, formally acquiring a 40% operated interest in Petroleum Exploration Licence 83 (PEL 83) offshore Namibia, which contains the significant Mopane discovery. The transaction, first announced in December 2025, strengthens TotalEnergies’ position in Namibia’s Orange Basin and expands its role in the country’s rapidly developing offshore oil and gas sector. TotalEnergies Takes Operatorship Under the completed transaction,

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Corporate News Diamonds International

Gem Diamonds Returns to Profit as Letšeng Performance Improves

Gem Diamonds Revenue Rises 32% to $59.7 Million as Letšeng Diamond Prices Strengthen London-listed Gem Diamonds significantly improved its financial performance in the first half of 2026, supported by stronger diamond prices and improved product quality at its Letšeng mine in Lesotho. Revenue for the six months ended June 30 increased 32% to $59.7 million, compared with $45.4 million in the first half of 2025. The average diamond price rose to $1,395 per carat, from

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Local Corporate News Mining Projects

Longonjo Rare Earth Project Expands Potential with Dysprosium and Terbium Discovery

Angola’s Longonjo Rare Earth Project Adds Dysprosium and Terbium to Resource Potential Angola’s Longonjo rare earth project in Huambo Province has strengthened its strategic potential following the identification of dysprosium (Dy) and terbium (Tb), adding to the previously identified neodymium (Nd) and praseodymium (Pr). The discovery was announced following a visit by Mineral Resources, Petroleum and Gas Minister Diamantino Azevedo to the Ozango Minerais project, which is being developed by UK-based Pensana with participation from

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Corporate News Local Oil

Sonangol Eyes Sustainable Aviation Fuel Production in Angola

Sonangol Eyes Sustainable Aviation Fuel Production in Angola as Bio-Refinery Plans Advance Angola’s national oil company, Sonangol, is evaluating the potential to produce Sustainable Aviation Fuel (SAF) domestically, following a scientific study that identified favourable conditions for developing a local SAF industry. The assessment was conducted by researchers from Sonangol’s Research and Development Centre (CPD) and Sonangol Refining and Petrochemicals (SNL R&P). The findings indicate that Angola could support SAF production through its availability of

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International Corporate News Oil

Galp Weighs N$13 Billion More Investment in Namibia’s Mopane Oil Project

Galp Considers Further N$13 Billion Investment as Mopane Oil Project Advances Galp Energia is considering an additional N$13 billion investment in Namibia as it advances exploration and appraisal work on the Mopane oil discovery in the Orange Basin, with a potential final investment decision targeted for 2028. The proposed investment would come on top of approximately N$12 billion Galp has already invested in Namibia over the past 20 years. If approved, the additional spending would

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Corporate News Local Oil

Etu Energias Strengthens Angola Offshore Position with $260 Million Chevron Deal

Etu Energias Acquires Chevron’s Angola Block 14 and 14K Stakes in $260 Million Deal Angola’s Etu Energias is significantly expanding its position in the country’s offshore oil sector after agreeing to acquire Chevron’s interests in Blocks 14 and 14K in a deal valued at $260 million. Under the agreement, Etu Energias will acquire Chevron’s 31% interest in Block 14 and 15.5% interest in Block 14K, both located offshore Cabinda. The assets currently produce about 42,000

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International Corporate News Diamonds

Alrosa Swings to $110 Million H1 Loss Amid Weak Diamond Market

Alrosa Swings to $110 Million H1 Loss as Weak Diamond Market and Strong Rouble Hit Earnings Russian diamond producer Alrosa has reported a net loss of 9.5-billion roubles ($110.1-million) for the first half of 2026, compared with a profit of 40.6-billion roubles in the same period last year. The world’s largest diamond producer said its performance was affected by weak market conditions, a stronger rouble, relatively high interest rates and inflation in Russia. Revenue, including

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International Corporate News Oil

Dangote Refinery Faces Rising Petrol Imports as 43% of Nigeria’s July Supply Comes From Abroad

Nigeria’s Petrol Imports Surge to 43% of Supply, Pushing Dangote Refinery to Export Surplus Fuel Nigeria’s Dangote Petroleum Refinery is increasing petrol exports as rising imports take a growing share of the domestic market, creating uncertainty over demand and leaving the $20 billion refinery with surplus fuel. Imported Premium Motor Spirit (PMS) accounted for approximately 43% of Nigeria’s petrol supply in July 2026, according to data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority

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